SPS Commerce Q1 revenue up 6% on core business growth

SPS Commerce

30/04/2026 21:22

Overview

US supply chain network's Q1 revenue rose 6% but slightly missed analyst expectations

Adjusted EBITDA for Q1 increased 7% and beat analyst estimates

Company repurchased $47.1 mln in shares during the quarter

Outlook

SPS Commerce sees Q2 revenue between $194.5 mln and $196.5 mln

Company expects 2026 revenue between $796 mln and $802 mln

SPS Commerce expects 2026 adjusted EBITDA of $262.8 mln to $267.3 mln

Result Drivers

CORE BUSINESS GROWTH - Co said Q1 performance was led by growth of its core business and momentum in cross-selling across its customer base

AI CAPABILITIES LAUNCH - Co highlighted the launch of MAX, a new set of AI features embedded in supply chain workflows

MARGIN FOCUS - Co said it is focused on driving margin expansion through operating leverage and AI-driven efficiencies

Company press release: ID:nGNX8z7G9j

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
$192.10 mln
$192.72 mln (9 Analysts)
Q1 Net Income
$19.70 mln
Q1 Adjusted EBITDA
Beat
$57.90 mln
$56.67 mln (8 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy."

Wall Street's median 12-month price target for SPS Commerce Inc is $72.50, about 31.4% above its April 29 closing price of $55.18

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 20 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)